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The present study aims at highlighting some of the impacts that labour market an education mutually have on each other both in the context of economies in transition (even if they used to have long historic traditions related to pioneering in instruction and education at mass and elite level) and that of a steady and consequent capitalist state undisturbed by the storms of radical political changes and periods of totally negating the values and results created by former historic eras and communities.

The main idea is that the relationship between the labour market and education is that of a mutual demand and supply based corelation, permanently influencing each other, so no political or economic authority and power should miss taking this into consideration unless they want to fail.


Two problems appear to be most topical in conjunction with mortgage valuation practices during an economic crisis: the assessment of sustainable long-term mortgage values and the assessment of liquidation discounts to prevailing market values which would provide for the most advantageous liquidation/quick sale strategy. This paper addresses the latter issue, which has traditionally proven intractable to analytical modeling. Apart from reviewing some research devoted to the subject of liquidation value modeling, predominantly from the Eastern European perspective, where this issue has, for years, commanded a particular economic interest, this paper synthesizes the best features of this research and builds on it to propose its own model, which lays equal emphasis on both the sellerside and demand-side perspectives. The first perspective accounts for the financial interests of a lender in forced sale disposals, while the latter perspective engages economic analysis on the side of market feasibility of identified efficient lender disposal strategies. By negotiating both perspectives, an optimal analytic solution to the issue of liquidation value discounts can be obtained. This is achieved by what we call a SI-MI framework which is developed throughout the paper.

We also adapt this framework specifically to the mortgage banking context where we use it to bring to light some rarely discussed linkages between the LTV policies of a bank and its mortgage liquidation strategies. This also allows us to propose a model and an LTV formula which can help organize thinking about optimal LTV policies in credit issuing processes.

We hope that, with the re-appearance of liquidation value basis/premise of valuation as a recognized international basis of valuation in the new edition of the International Valuation Standards (IVS 2017), the findings of this paper will become topical.


Based on the methods used by economic theory, the study analyses the labour demand of companies and pays special attention to people with changed working ability. The European Union emphasizes the development of active employment policy programmes in line with the wide range of benefits linked to additional labour force utilization in our country. Tax liabilities and tax allowances related to additional labour force utilization significantly affect the profitability of companies. For this reason, the study examines the effects of the use of the production factor in certain cases on the profit based on the example of a 25-person company. Despite active employment policy measures, experience shows that the labour demand of companies is less directed towards people with changed working abilities. However, in this situation, besides the estimated lower labour productivity, infrastructural and sociological factors also play an important role.

References BAYOUMI, T., EICHENGREEN, B. (1993). Shocking Aspects of European Monetary Integration. In Adjustment and Growth in the European Monetary Union. Cambridge: Cambridge University Press, pp. 193-230. ISBN 978-05214400196. BLANCHARD, O. J., QUAH, D. (1989). The Dynamics Effects of Aggregate Demand and Supply Disturbances. American Economic Review.79 (4), pp. 655 - 673. ISSN 0002-8282. CHRISZT, M. (2000).Perspective in a Potential North American Monetary Union. Federal Reserve Bank of Atlanta. Economic Review. 2000 (4), pp. 29-38. ISSN 0732-1813. COHEN, B


This paper presents a discussion on the theoretical and conceptual framework on issues relating to access to financial services. The discussion begins by providing details of various theories that underpin the demand and supply side of access to financial services. The supply dimension of access to financial services is guided by the information asymmetry theory and the transaction cost theory, while the key demand dimension theories are the delegated monitoring theory and the rational choice theory. In the later sections, a conceptual framework was developed for the empirical evaluation of access to financial services and its impact on productivity with particular reference to farmers in emerging economies. The last section provides the concluding remarks, which recommends the use of empirical analyses to access factors influencing access and the impact of the access to farmers’ productivity.


This paper proposes a dynamic economic model with wealth accumulation and human capital accumulation with elastic labor supply. The economic system consists of one production sector and one education sector. Our model is a synthesis of three main models in economic theory: Solow’s one sector neoclassical growth mode, the Uzawa-Lucas two sector model, and Arrow’s learning by doing model. The model also includes Zhang’s idea about creative leisure or learning by consuming. Demand and supply of education in our model are determined by market mechanism. The model describes dynamic interdependence among wealth accumulation, human capital accumulation, division of labor, and time distribution among leisure, education and work under perfect competition. We simulate the model and examine effects of changes in the total productivity of the education sector, the total productivity of the production sector, the propensity to obtain education, and learning efficiency in school.


The aim of the paper is to analyze the possibilities of the automotive industry development in the V4 countries in the near future. Automotive is one of the most important industries in the Czech Republic, Hungary, Poland and Slovakia. However, it faces significant challenges on both the demand and supply side. The shortage of qualified and relatively cheap labour force, once the important comparative advantage of these countries is becoming a major problem in sustaining the competitiveness. Meanwhile the rise of protectionist policies and trade tensions also pose a significant threat to the exportoriented industry. The third important source of change is the technological advancement. Industry 4.0, electromobility and self-driving cars are reshaping the whole business model. In order to stay competitive, the V4 countries have to take all these factors in account and try to adjust their policies to these changes in environment.


The main purpose of the paper is to present some of the mechanisms connected with the functioning of the Polish housing market, with due regard to demand and supply volatility as well as the changing financial conditions at the time of the global financial crisis of the first decade of the present century. Special attention is given to the financial and legal regulations concerning the housing market, which were introduced in response to the economic downturn.

On the basis of research conducted by the authors, as well as available reports and statistics for 2007-2013, the article will explore market phenomena (the size and pattern of demand, supply and prices on the housing market, and the changes they undergo) on the one hand, and the legal and financial regulatory changes directly affecting them, on the other. It will also study the effects of the implementation of the recommendations made by the Polish Financial Supervision Authority (KNF) by banks in the wake of the global financial crisis. These cause banks to tighten their credit policies and, accordingly, have an impact on their loan portfolios. Information from secondary sources has also been used, notably from the Central Statistical Office (GUS), the KNF, the National Bank of Poland (NBP), as well as the Polish Bank Association (ZBP) and the Credit Information Bureau (BIK). Changes that occurred during the period of economic crisis in the availability of housing have also been examined.

References Blanchard, O. J., and Quah, D., 1989. The Dynamic Effects of Aggregate Demand and Supply Disturbances. The American Economic Review, 79(4), 655-673. Gârlă, E., 2014. Pragul insecurităţii economice. Analele Academiei de Studii Economice a Moldovei(2), 142-145. Gârlă, E., 2015. Ştiinţificitatea strategiilor de dezvoltare economică: Academia de Studii Economice a Moldovei. Gârlă, E., and Pârţachi, I., 2015. Sustainable development. Human development index Romanian rural tourism in the context of sustainable development: present and prospects (Vol. XXXVII

). Large scale monitoring of public transport accessibility in the Czech Republic. Proceedings of the 15th International Carpathian Control Conference, ICCC 2014. 157-163. IVAN, I., & HORÁK, J. (2015). Demand and Supply of Transport Connections for Commuting in the Czech Republic. In: Ivan, I., Benenson, I., Jiang, B., Horák, J., Haworth, J., & Inspektor, T. (2015). Geoinformatics for Intelligent Transportation. Lecture Notes in Geoinformation and Cartography, Springer, 214, 137-147. JABLONSKÝ, J., & DLOUHÝ, M. (2004). Modely hodnocení efektivnosti produkčních jednotek